Why Advanced Micro Devices Stock Surged 17% in August
Shares of Advanced of Micro Devices (NASDAQ: AMD) gained 17.3% last month, according to data provided by S&P Global Market Intelligence. The stock took off in July, and investors continued to bid the share price up last month. Fueling the enthusiasm around the stock is AMD's recent gains in market share against rival Intel (NASDAQ: INTC) in the server market.
The optimism was validated when AMD reported another strong quarter in late July. In August, one analyst issued a bullish call about AMD's prospects to continue taking share from Intel over the next few years, which buoyed the stock price.
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Source Fool.com
